Highland Signs on Courtyard Denver Airport

27th Aug 2004

Highland Hospitality
Corporation , a lodging real estate investment trust, or REIT, announced
today the signing of a definitive agreement to acquire the 202-room
Courtyard Denver Airport hotel. The purchase price for the hotel is $17.25
million, or approximately $85,400 per room. The company expects to close
on the hotel within the next 30 days. James L. Francis, Highland’s President and CEO, stated, “We are very
excited about our planned acquisition of the Courtyard Denver Airport.
This property fits well with our strategy to acquire upscale
limited-service assets in urban and major airport markets. The Courtyard
Denver Airport is located near one of the busiest airports in the country
and is situated just outside one of the fastest growing major cities in
the United States.” ——-